Brendan Burgess
Founder
- Messages
- 52,118
I have come across a Bank of Ireland case where they split a cheap tracker where the borrower owed around the same amount as the house was worth.
This makes no sense from Bank of Ireland's point of view. They could have insisted on the sale and had the cheap tracker paid off in full.
I have been told that AIB makes no distinction between trackers and SVR mortgages when devising splits. So someone who is paying say 1.5%, who has 30% of their mortgage split, ends up with an efffective rate of 1%.
Again, this makes little sense to me.
I have been told that ptsb has a more refined model which makes it easier to reschedule SVR mortgages but if someone is not able to meet the tracker repayments, they are very often unsustainable.
I would be interested in collecting examples of positive and negative experience of tracker rescheduling.
This makes no sense from Bank of Ireland's point of view. They could have insisted on the sale and had the cheap tracker paid off in full.
I have been told that AIB makes no distinction between trackers and SVR mortgages when devising splits. So someone who is paying say 1.5%, who has 30% of their mortgage split, ends up with an efffective rate of 1%.
Again, this makes little sense to me.
I have been told that ptsb has a more refined model which makes it easier to reschedule SVR mortgages but if someone is not able to meet the tracker repayments, they are very often unsustainable.
I would be interested in collecting examples of positive and negative experience of tracker rescheduling.